Power and utilities sector insight

Power and utilities sector insight

Highlights

Also on KPMG.com

While the headlines will be about the introduction of a Living Wage and other attention grabbing measures like the reduction in headline Corporation Tax rates to 18%, the Chancellor signalled a change in direction on environmental taxation with the first step being the immediate abolition of the exemption from the Climate Change Levy (CCL) for renewable energy generation.

Given the UK energy market relies on highly mobile international capital, investors will need greater certainty soon about the tax and funding frameworks for UK energy investments, or that capital may be diverted to opportunities elsewhere.